2012 was a good year for real estate in Portland Maine. Sales of single family home were at their highest level since 2007, as 427 transactions were completed, representing an increase of 13.9% over 2011.
The highest years recorded for homes sales in Portland were 570 units in 2006, followed by 566 in 2004 and 519 in 2005. Sales in 2011 were at their lowest level of the last decade, as only 375 sales were recorded – thus putting results in perspective. Units sales during the last several years are listed below:
- 2012 427
- 2011 375
- 2010 400
- 2009 413
- 2008 406
- 2007 490
- 2006 590
Monthly Sales Since 2010
The chart below highlight monthly sales. Reflected in the results are the clear seasonality of the business, especially in the first quarter of the years. Additionally, there was a strong surge during the last several months of 2012.
Home Pricing
The median price was also up in 2012. The year ended with a median selling price of $223,000 compared to $219,000 in 2011 – a modest increase of 1.8%. But after several years of decreasing or stagnant pricing, this is a good trend.
The highest price on record for an entire year was 2005 at $249,900. For more information about Portland, including an overview of the area, visit Local Communities – Portland.
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About the Author: Michael
